At the end of the trading day on Friday, the web company we know as Google technically became a subsidiary under Alphabet's umbrella along with other properties like Google Ventures, Nest and Google Capital. But that's really the only difference. (Video via Google)

Google shares are now Alphabet shares, but the ticker symbols will stay the same. The board of directors doesn't change. Google's day-in-day-out business won't change.

This makes some financial wrangling — such as acquisitions — easier, and gives Alphabet more leeway to try crazy new things.